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India-Oman Relations

Why is it in the news?

  • Sultan of Oman’s visit to India, the first since assuming office in 2020, signifies the importance both nations place on bilateral ties.

Some of the key highlights

Oman-India Joint Investment Fund

  • Third tranche of $300 million announced, demonstrating a commitment to economic collaboration.
  • Joint venture between State Bank of India and Oman Investment Authority, emphasizing a balanced partnership.
  • Aim is to channel funds into rapidly growing sectors of the Indian economy, fostering mutual economic growth.

Joint Vision Document

  • Adoption of “India-Oman Joint Vision: A partnership for the future” reflects a shared commitment to long-term cooperation.
  • Aligned with Oman Vision 2040 and India鈥檚 development vision till 2047, providing a strategic framework for future engagements.

Agreement on Money Laundering

  • Signing an agreement between Financial Intelligence Unit of India and National Centre for Financial Information of Oman underlines joint efforts to combat financial crimes.
  • Focus on preventing money laundering strengthens financial cooperation.
  • Anticipation of signing a Comprehensive Economic Partnership Agreement (CEPA) during the head of state visit highlights the commitment to deeper economic integration.


India-Oman Relations

Economic Cooperation

路聽聽聽聽聽聽 Bilateral trade in 2022-23 at $12.3 billion, showcasing the economic significance of the relationship.

路聽聽聽聽聽聽 India as the 2nd largest market for Oman鈥檚 crude oil exports and 4th largest market for non-oil exports signifies the diversification of economic ties.

Defence Cooperation

路聽聽聽聽聽聽 Regular biennial bilateral exercises (Al Najah, Eastern Bridge, Naseem Al Bahr) strengthen military-to-military cooperation.

路聽聽聽聽聽聽 Enhances mutual understanding and interoperability between armed forces.


Indian Diaspora

路聽聽聽聽聽聽 Presence of around 700,000 Indians in Oman, including workers and professionals, underscores people-to-people ties.

路聽聽聽聽聽聽 Some Indian families residing for over 150-200 years exemplify the historical depth of connections.

Maritime Cooperation

路聽聽聽聽聽聽 Oman’s strategic location at the Strait of Hormuz’s gateway crucial for India’s oil imports.

路聽聽聽聽聽聽 The 2018 pact granting India access to the Duqm port enhances maritime cooperation and trade facilitation.



路聽聽聽聽聽聽 Central Bank of Oman (CBO) and NPCI: MOU signed in 2022 to link payment systems enhances financial connectivity. Facilitates smoother transactions and economic cooperation.

路聽聽聽聽聽聽 Oman News Agency and Asia News International: Exchange of MOUs facilitates information exchange, fostering cultural and media ties.



  • Oman’s role as a key pillar in India鈥檚 West Asia Policy underscores its strategic importance.
  • Its strategic location enhances mutual security and economic interests.
  • Building on historical ties and adapting to the changing global landscape, India and Oman can jointly contribute to regional stability and prosperity.

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